Mackenzie Financial Corp Decreases Stake in Bank of America Corporation $BAC

Mackenzie Financial Corp lessened its holdings in shares of Bank of America Corporation (NYSE:BAC) by 18.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,913,482 shares of the financial services provider’s stock after selling 643,795 shares during the period. Mackenzie Financial Corp’s holdings in Bank of America were worth $150,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BAC. Riverview Capital Advisers LLC boosted its position in shares of Bank of America by 4.2% during the 3rd quarter. Riverview Capital Advisers LLC now owns 4,686 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 188 shares in the last quarter. Shepherd Financial Partners LLC increased its holdings in shares of Bank of America by 0.3% in the 3rd quarter. Shepherd Financial Partners LLC now owns 60,279 shares of the financial services provider’s stock valued at $3,110,000 after purchasing an additional 189 shares in the last quarter. William B. Walkup & Associates Inc. lifted its stake in shares of Bank of America by 1.4% in the third quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider’s stock valued at $723,000 after purchasing an additional 192 shares during the period. Albion Financial Group UT boosted its holdings in Bank of America by 1.6% during the third quarter. Albion Financial Group UT now owns 13,031 shares of the financial services provider’s stock worth $672,000 after buying an additional 205 shares in the last quarter. Finally, Motive Wealth Advisors boosted its holdings in Bank of America by 3.6% during the third quarter. Motive Wealth Advisors now owns 5,910 shares of the financial services provider’s stock worth $305,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insiders Place Their Bets

In other news, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the transaction, the insider directly owned 307,240 shares of the company’s stock, valued at $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the sale, the insider owned 227,973 shares in the company, valued at $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BAC. CICC Research initiated coverage on shares of Bank of America in a report on Wednesday, January 14th. They issued an “outperform” rating and a $62.00 target price for the company. Keefe, Bruyette & Woods decreased their price target on Bank of America from $64.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. Evercore set a $59.00 price target on Bank of America in a report on Thursday, January 15th. Truist Financial dropped their price objective on Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Finally, Erste Group Bank cut Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Twenty-one investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.30.

More Bank of America News

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: BofA expects higher net interest income (about +7%) and ~10% growth in investment banking fees for Q1, which supports earnings upside from core banking and capital markets. BofA expects rising interest income, investment banking fees in first quarter
• Positive Sentiment: Analysts note fee-income tailwinds from stronger capital‑markets momentum (IB, trading, wealth), which should lift non‑interest revenue in Q1. BAC’s Fee Income to Benefit From Solid Q1 Capital Markets Performance
• Positive Sentiment: Management commentary and memos indicate strong trading revenue and heightened client engagement in Q1, reinforcing the view of improved market‑driven revenue streams. Bank of America sees strong trading revenue in Q1, co-president says
• Positive Sentiment: Digital and AI initiatives are expanding client interactions and platform usage (Zelle, Erica, CashPro), which supports cross‑sell, lower cost-to-serve, and long‑term revenue growth. BofA AI and Digital Innovations Fuel 30 Billion Client Interactions
• Positive Sentiment: BofA is bolstering its tech and M&A capabilities by hiring senior tech bankers, aimed at capturing deal activity in a competitive segment. Bank of America poaches four top tech bankers to boost tech dealmaking, memos show
• Neutral Sentiment: BofA presented at the RBC Global Financial Institutions conference — useful detail for modeling but no new guidance; transcript provides management color. Bank of America Corporation (BAC) Presents at RBC Capital Markets Global Financial Institutions Conference 2026 Transcript
• Neutral Sentiment: Regulatory transparency disclosures show BofA holdings in several non‑bank names (Galapagos, Qiagen, Umicore) — operationally immaterial to BAC but noted by markets. Qiagen discloses Bank of America’s 3.05% stake following AFM notification
• Negative Sentiment: Shares have slid materially year‑to‑date (~13% YTD in recent coverage), raising valuation and sentiment concerns that can amplify downside on broader market weakness. Bank of America Stock Slides 12.9% YTD: Time to Buy the Dip or Wait?
• Negative Sentiment: Macro risk commentary (Korea bubble, geopolitical/market risk) from BofA strategists can pressure investor risk appetite and weigh on bank multiples despite solid company fundamentals. Korea stock-market action was ‘textbook bubble,’ say Bank of America strategists

Bank of America Stock Down 0.1%

Shares of NYSE BAC opened at $48.50 on Thursday. The firm’s 50-day moving average is $52.86 and its two-hundred day moving average is $52.51. The company has a market capitalization of $348.05 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.18 and a beta of 1.28. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same period last year, the company posted $0.82 EPS. The company’s revenue was up 12.3% on a year-over-year basis. Equities analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.3%. Bank of America’s dividend payout ratio (DPR) is presently 29.24%.

Bank of America Company Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.